Japan Financial News

This is the first in a series of commentaries and analyses that former Wallaby captain Simon Poidevin will write for the Financial Reviewduring the Rugby World Cup in France.

Manufacturing activity in Asia’s major export powerhouses slumped further in August as weak demand persisted in the region’s key trade markets, particularly in China. Factories in North Asia experienced weaker new orders, output and export sales, according to manufacturing purchasing managers’ surveys published Friday by S&P Global and au Jibun Bank. The purchasing managers’ index for trade bellwether Taiwan was little changed at a subdued level of 44.3 last month from 44.1 in July, while South Korea’s gauge slumped to 48.9 from 49.4 during the same period. Seoul reported a similarly gloomy reading on industrial production on Thursday, showing a bigger-than-expected drop in July, marking its longest stretch of output decline yet. Japan’s PMI was unchanged at 49.6, below the 50 mark that separates expansion from contraction.Southeast Asia, which until recently was a bright spot, showed the weak sentiment was rubbing off on factories in the region.

Gold rose on Friday and was poised for a second straight weekly gain, helped by diminished chances of U.S. interest rate hikes this year after a data-filled week that concludes with the pivotal jobs report later in the day. FUNDAMENTALS * Spot gold gained 0.2% to $1,942.56 per ounce by 0130 GMT, looking set for a more than 1% weekly gain after prices touched one-month highs on Wednesday.

rising wages. The yen has come under pressure in recent months, weighed by the Bank of Japan's ultra-loose monetary policy, which has in turn inflated the costs of imported goods. The final au Jibun Bank Japan manufacturing purchasing managers' index (PMI) was at 49.6, unchanged from the previous month and slightly down from the flash reading of 49.7. It was the third month the index has come in below the 50.0 threshold that separates growth from contraction. Output and new orders, which contribute the most to the headline figure, remained in contraction, although the reduction in orders was slower than in July, data by S&P Global Market Intelligence showed. Input cost inflation re-accelerated for the first time since September, while output price inflation slowed, squeezing companies' profits. Rising wages also fuelled cost pressures, according to the survey, with the subindex for employment showing the weakest growth in 29 months. «Firms noted that the filling of existing vacancies due to staff shortages were offset by a number of voluntary resignations as staff looked for higher paying jobs,» said S&P's Usamah Bhatti. The soft PMI reading comes a day after government data showed Japanese factory output falling more than expected in July, dented by weak demand for capital goods and electronic devices in China.

China stepped up efforts to support its housing sector and stabilise the yuan, though investors remained cautious ahead of U.S. jobs data that could make or break the case for further rate hikes. U.S.

Indian stock market is expected to open on a tepid note Friday on the back of mixed global cues. Asian markets traded mostly higher, while the US stock market ended mixed overnight amid the release of key economic data that raised hopes that the US Federal Reserve may not hike interest rates further. Investors await the US employment data due on Friday for clues on the Fed’s monetary policy outlook.

According to Bloomberg's sources, Leon Foong, who served as the head of Binance Asia-Pacific, is leaving his position at the world's largest cryptocurrency exchange.

Cryptoasset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect on Sept. 1.

jobless claims for the week ended August 26 fell at 228,000. Shares of Salesforce climbed 3% after its upbeat revenue forecasts. Broadcom rose 3.4% and Intel gained 1.8%.

Benchmark U.S. crude oil for October delivery rose $2 to $83.63 a barrel Thursday

Takeshi's Castle, the iconic challenge game show of the late eighties and early nineties, has been rebooted for Amazon Prime Video. The new version of Takeshi's Castle premiered on Amazon Prime Video on August 30, 2023. Comedians Romesh Ranganathan and Tom Davis are the commentators on Takeshi's Castle for viewers in the UK. In an exclusive interview with Express UK, actor and comedian Romesh Ranganathan talked about working with fellow funnyman Tom Davis on the reboot of the Japanese game show. «He's one of my very best friends in the world!» said Romesh of Tom. He is obviously thrilled to be working with one of his best friends to voice the English version of Takeshi's Castle.

Patulin, a mycotoxin produced by various fungi, poses a threat to a wide range of organisms, including humans, mammals, plants, and microbes. This mycotoxin is commonly found on damaged or decaying fruits, especially apples, and can contaminate various apple-based products like applesauce, apple juice, jams, and ciders, especially in environments with subpar hygiene during food production. The global concern over patulin toxicity encompasses a range of health issues, from nausea and lung congestion to ulcers, intestinal hemorrhages, and more severe consequences such as DNA damage, immunosuppression, and an increased risk of cancer. Consequently, numerous governments worldwide have imposed limits on the permissible levels of patulin in food items, particularly in baby food. Addressing patulin toxicity involves multiple treatment approaches, including oxygen therapy, immunotherapy, detoxification therapy, and nutrient therapy.

According to a Bloomberg report, Binance Japan, the Japanese arm of the world's largest crypto exchange, which recently launched full services, now plans to significantly expand its token offerings, aiming to present a minimum of 100 tokens soon. This intended increase is approximately three times the current selection.

The bulls have not favored Fantom (FTM) and Cardano (ADA), as both saw a drop in prices on weekly charts. Yet, Everlodge attracts an impressive amount in its presale. Fantom (FTM) is one of the leading DeFi services.

The trust has become a 'consolidator' within the AIC Japan sector.

Top 100 ranked blockchain Eos (EOS) has pumped +5% in the aftermath of news that the digital asset has been approved for trading by Japan's Virtual and Crypto Asset Exchange Association (JVCEA), with markets going live in mid-September.

Batteries in older Nissan Leaf electric vehicles are getting a new life as portable power sources that can be used to run gadgets on the go or deliver emergency power in disasters

Also read: Fukushima Water Row: Japan receives over 1,000 abusive calls from Chinese citizens The meal was a show of support for the Sanriku Joban region, which includes Fukushima, and an effort to highlight the safety and quality of seafood from the area. Kishida invited reporters to film the meal, "We eat in support of the Sanriku Joban region.

Japanese retailer Seven & i Holdings Co. is selling department store chain Sogo & Seibu Co. to a U.S. investment fund, as the labor union went on strike ahead of the announcement

Asian stock markets are mostly lower after Japanese factory activity and Chinese service industry growth weakened

Japan's defense ministry is requesting a nearly 12% budget increase that includes two warships with advanced radar and long-range cruise missiles